andrewducker: (Default)
andrewducker ([personal profile] andrewducker) wrote2011-01-03 11:01 am

[identity profile] gonzo21.livejournal.com 2011-01-03 11:45 am (UTC)(link)
Indeed, there are at least a dozen local property developments that have ceased around here, because developers can no longer make huge profits on them.

The worrying thing is just how many people jumped on the property development bandwagon, and as soon as interest rates start to go up again... I fear a lot of people are going to be in a world of hurt.